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European law firm Fieldfisher has advised on the sale of Garrison Technology Ltd to Everfox, a leading US high-assurance cybersecurity organisation. This complex transaction requires clearance under the National Investment and Security Act 2023 as a condition to completion and involved a multi-disciplinary team of experts from Fieldfisher’s corporate, tax, incentives, regulatory, and finance practices.
Everfox, renowned for its defence-grade cybersecurity solutions, signed a definitive agreement to acquire London-based Garrison Technology Ltd. The transaction will be satisfied in cash and rollover equity, marking a significant milestone in the cybersecurity industry. The integration of Garrison’s hardware-enforced security solutions with Everfox’s existing portfolio is expected to revolutionise the delivery of high-assurance security products globally.
Garrison Technology Ltd, a pioneer in hardware-enforced security (hardsec) solutions, has established a strong reputation globally, trusted by national governments, critical infrastructure, and commercial enterprises. This transaction highlights the growing complexity and importance of cybersecurity in protecting digital infrastructures against sophisticated threats.
Corporate Partner Janita Good, who led the Fieldfisher team, commented: “The complexity of this deal, particularly with the regulatory requirements, showcases Fieldfisher’s expertise in navigating intricate legal landscapes. This acquisition not only signifies a monumental step for Garrison and Everfox but also underscores the critical importance of advanced cybersecurity measures in today’s digital age.”
The advisory team from Fieldfisher included Director Ruth Lewis, Associates Maxine Smith and Josh Cronin, Solicitor Apprentice Andrea Carrera, and Trainee Solicitor Valeriya Shleina from the corporate practice. Partner Andrew Prowse and Director John Tolman advised on tax aspects, Partner Mark Gearing and Senior Associate Josef Korchinsky on equity incentives, and regulatory matters were managed by Partner John Cassels, Associate Asfand Gulzar, and Trainee Solicitor Daniel Bishop. Financial aspects were overseen by Partner Robin Spender and Director Aaron McGarry.
Completion of the transaction is subject to regulatory approvals and other closing conditions, with finalisation expected later this summer.